16 Jan 2006
RESONA BANK, LTD v. WEALTHY HARVEST INDUSTRIES LTD AND ANOTHER
- Citation
- RESONA BANK, LTD v. WEALTHY HARVEST INDUSTRIES LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP4376/1999
Defendants did not establish a real or bona fide defence: the unauthorised withdrawals allegation was not credible on the evidence and timing of complaints and did not show loss; the mortgages were not to the manifest disadvantage of the mortgagors (many purchases funded by the Bank and properties benefited mortgagors) so the Bank was not put on inquiry and the undue influence defence fails; prior judgment against guarantors precludes re-litigation to the extent awarded; therefore judgment for the Bank for the sum claimed and delivery up of vacant possession was appropriate.